How Much Can Photography Make?
First, I want to start off with a video by Peter McKinnon where he outlines things he wished he knew before going to photography! Mistakes are something everyone going to make. Therefore, if you can avoid a lot of unnecessary mistakes, you be on a path to success. Therefore, sit back, relax and enjoy the video and the blog on how you can make money in photography!
1. Photography In A Nutshell
Photography can be many different things. On the surface, photography is the act of taking pictures. However, there is so much more to this industry. When you’re a photographer, you capture moments in time. Memories that can be given to loved ones or even clients!
It may sound like a walk in the park but I can assure you it is quite the opposite. Something as simple as the wrong lighting can throw off a whole picture. However, getting the right picture can be astonishing. I don’t want to ramble on too long because most people know what photography is. Therefore, let’s get right down to how you can make money in photography!
2. How Much Can You Make?
Photography can help you make a lot of money. However, it may be extremely difficult at the start. There are various factors as to why this may be. One reason is that it has a low barrier for entry. I’ve come across many people who wake up and decide that they want to become a photographer. Just like any skill or business, it takes time and commitment. However, I believe that if you stay dedicated, you can make some serious cash! There are many ways that you can turn photography into a form of income, some may even surprise you.
However, in order to start making money, you’re going to need equipment. Unfortunately, photography equipment isn’t cheap. However, there are many expensive and affordable options that can help you can use! Let’s look at a couple of examples. The Nikon D850 is an excellent DSLR, it would be difficult to find a better camera. However, after-tax, this camera costs quite the pretty penny, over $4,000. This is the type of camera a seasoned photographer with a lot of clientele would use.
For those who’re starting off, there are many cheaper alternatives. Even though these cameras are cheaper, they’re still excellent and will be able to perform above your expectations. One of these cameras is the Canon EOS Rebel Sl2. One of the highest-rated DSLR’s you can find with an affordable price tag! If you’re just starting off, it would be advantageous to start off small and work your way up to more expensive equipment.
Now that we talked about some of the cameras you could use, let’s take a look at the various ways of making money through photography!
Blogging
Blogging, in any form, can be a terrific way to make some money and market whatever product you may be selling. One example of this is travel blogs. People love to travel the world and take amazing pictures of what they experience. Then, the picture is posted onto their website with a description on their travels. A really good example of this is The Social Girl Traveler! On her website, she has a store where you can shop and purchase what she’s selling. However, through her travels, she uses her own pictures and expresses how her journey was.
Now, you may be thinking that this isn’t making money “off of photography” and you’re right. This isn’t a direct example of how you can make direct money This example is to show you how vast the industry of photography is. You can use photography as a tool to enhance your marketing or branding in order to sell your products. Photography in blogging can be seen as a small factor that greatly contributes to the bigger picture.
Selling Photographs
In the above section, we mentioned a way for you to make money from your blog while using your photography as an aid. You can take this one step further. Stock photos are a great way to monetize your craft. Let’s say that you went to Stonehenge and took a marvelous picture. You could post that picture on your website site and allow users to purchase it! That way, if someone really likes your picture, they’re able to pay you and use it on their own website. It’s a win-win!
A very popular company that does this is Adobe. The prices for the pictures you take can vary but are up to your discretion. Therefore, if you really like a picture and it took a lot of effort to curate, don’t be afraid to charge more. People are willing to pay more for something they really like and find value in.
Photographing Events
most of the photographers I’ve met have a very similar goal. That goal is to do photography or videography for events. Events, for most photographers, is their main way of garnering income. This is due to the fact that you can charge your client thousands of dollars just for one evening. However, this usually isn’t just for the photographs. Most people have their pictures framed, sent out in little booklets or even made into mini-movies! There is a lot of money to be made by photographing events but it comes with a lot of work.
There are many types of events you can photograph such as weddings, proms, birthdays, engagement parties, baby showers and many more. The average price for a photographer to cover your entire wedding can be $2,000 – $5,000! These include, as previously stated, coverage of your whole wedding and typically multiple photographers. Obviously, the higher someone is willing to pay, the more value you’ll provide with your service.
For example, multiple photographers covering a wedding that lasts 8 hours and simultaneously videotaping can turn you a huge profit. With a bundle like that, you can expect that people are willing to pay well over $2,000. However, the quality must be on par. No one is going to be pleased with work that looks like it was done by amateurs, especially at that price point. Therefore, price according to what you believe your skill is worth at the moment and work your way up!
Photographing Social Media
I believe that this would be a great opportunity for many people. There are many people who make a living off of being an influencer or by using social media as a marketing tool. Therefore, it only makes sense that these same people are going to use a professional to take their photos. Many people use their Instagram as a portfolio and others use it to model their new clothing line. As you work with people, you can take the work you’ve done and post it on your own resume! Think of it as a visual portfolio for those who’re looking for someone to be their photographer.
YouTube
This one does not have to do with photography per se. However, if you wanted to incorporate your photographing and videotaping talents into a lucrative passion, this would be it! I’m not going to spend a lot of time in this area because I’ve written a whole blog about how much YouTubers make. However, I will drive home the point that YouTube is the ultimate platform for those who are into photography and videography.
If you wanted to incorporate your photographs into a YouTube channel, you could post photos of places you’ve been and describe how you liked it!. This would be literally the same thing that a blogger would be doing. However, you’d be doing through video, which has its advantages. Many people, especially younger kids, enjoy learning through visuals rather than reading. Therefore, creating YouTube videos to show off your travel photography or whatever you’re inspired by is a great idea.
Quick Read
Drop Shipping
Similar to the YouTube section, I won’t be discussing this too much because I’ve alright written an article on this subject, However, through drop shipping, you can make a killing by selling various photography equipment! Therefore, you would not be selling your photos. Rather, you’d be selling the opportunity for someone else to become a photographer. Photography is a growing industry which means more people are looking to purchase equipment. This can either be for a profession or hobby. Either way, it’s an opportunity for you to capitalize! Below will be a graph of how the photography industry is trending!
Quick Read
Teaching
Once you’ve gained enough experience, I’d highly suggest teaching people. Selling knowledge it truly the future and if you know what you’re doing, you can make some serious cash! Many people get into photography by teaching themselves. However, a lot do not know certain techniques when taking pictures or even editing. Holding a class where you teach new photographers on how to properly take pictures is a double win! You win because your business is generating income. Secondly, you’re giving them wholesome advise that they can use to progress in their career.
You can take it one step further. Holding in-person classes limits you to a local demographic. However, if you were to create an online course on the same stuff you’re teaching in person, you can expect your business to grow exponentially. Using the internet to sell your knowledge can generate a form of passive income because people will be buying an already finished product. Furthermore, you have a larger demographic since it’s much more accessible!
3. It’s All In The Practice
Just like any skill, it’ll take practice to truly become great. Even though photography has a low barrier for entry, which is great, it can be quite challenging. Aside from the competitive challenges, you must also know how to convey your creativity through your work. Preferably, in a way that’s unique and satisfies both you and the customer. However, I think photography is an excellent profession.
You can make some serious money. There is nothing stopping you from doing every single one of the above strategies. The more you monetize your skill, the more you’ll make. As a result, your business will grow because you’ll be constantly generating more traffic, it’s like a snowball effect! Therefore, if you’re thinking of becoming a photographer, just do it. I know you’ll kill it!
Until next time!
Shameed is just a man on a mission to help those around him gain financial success. Obsessed with writing about all things finance, this GTA native is constantly learning and sharing his experiences with others.
